As I prepare this post (7:15 am) mortgage rates are much the same as what I was quoting on Friday: VERY LOW! You can check out what mortgage rates I’m quoting for my Washington clients by following me on Twitter @mortgageporter.
The following are economic indicators scheduled to be released this week which may impact mortgage interest rates.
- Tuesday, August 14: Retail Sales and Producer Price Index (PPI)
- Wednesday, August 15: Consumer Price Index (CPI) and Empire State Index
- Thursday, August 16: Initial Jobless Claims, Housing Starts, Building Permits and Philadelphia Fed Index
- Friday, August 17: Consumer Sentiment Index
Remember, mortgage rates are based on mortgage backed securities (bonds). When the stock market is doing well, investors will trade the safety of bonds for the risk of a higher return with stocks, which causes mortgage rates to trend higher. Watch for signs of inflation with the economic data scheduled to be released this week as that may also impact mortgage rates for the worse. Unplanned events, such as what’s going on in the Euro-zone may also impact mortgage rates.
If you would like me to provide you a mortgage rate quote for your home located anywhere in Washington state, please click here.